Overview
- AAA reports the state average for regular gasoline at $5.078 per gallon, up 43.5 cents in a week, while the national average rose 43 cents to $3.413.
- Diesel in California climbed about 70 cents in a week to $5.808 per gallon, outpacing the rise in gasoline.
- Los Angeles County reached $5.165 and Orange County $5.153, recording their largest one-day increases since October 2012, according to AAA and OPIS.
- Reporters and analysts tie the spike to Iran-related conflict that constrained tanker traffic through the Strait of Hormuz, with some estimates putting affected oil flows near 20 million barrels per day.
- U.S. crude settled around $90.90 a barrel after a sharp weekly jump, and the administration announced up to $20 billion in maritime insurance as experts caution that shipping risks and seasonal fuel changes could keep prices volatile.